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SINGAPORE : Homegrown logistics group Cogent Holdings plans to raise net proceeds of S$9.1 million in an initial public offering in Singapore.
It plans to list on SGX's mainboard and is offering 92 million new shares at 22 cents each.
Cogent is a full-service logistics management service provider in Singapore.
The group provides trucking services for both laden and empty containers between ports and warehouses, as well as transportation for oil and gas equipment.
It also manages and leases approximately 4 million square feet of warehousing space and premises, as part of its warehousing and container depot management services business.
In 2008, Cogent expanded into the automotive logistics business, offering a comprehensive spectrum of services for the processing, transportation and storage of motor vehicles.
Cogent plans to use the main bulk of the net proceeds for the expansion of the group's container depot operations and warehousing space. - CNA/ms
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